NYFRB Operations today: $2,259,458,048,133 for June 22,2022
Some color here on what is going on now as opposed to 2008-they are being FORCED to do this since what (((they))) really want is to crash the markets HARD so the can buy it back on the cheap and start the next FRB boom/bust cycle-they still may do this but they also have an election to consider as well.
(((They))) do have a problem as in most cases (with a few exceptions) they have not had an extended drop in the markets under a Democratic incumbent-Kennedy was pretty obvious-Johnson was Vietnam spending and not really a Dem imo. Carter was towards the end of his term, Clinton they waited to fully unleash the tech bubble carnage until after he was out so it could be "laid" at the feet of Shrub. But also remember that they began the 2008 crash during the end of Shrub's term so that Hussein could arrive and "rescue it before his second month in office had even ended: >>140054
So there are a few exceptions. In September 2008 they (NYFRB) started doing these Reverse Repos in amounts of about $10B and they used one of that size to "trigger" the money market implosion (on Sept 11th 2008 a total of about $550B was "sucked" out of the money market system-basically an electronic system wide bank run-and TOTALLY created by them imo-in an hour and they say that $5.5 trillion would have been sucked out had they not acted.) Go back a few months and you had Chuck Schumer intentionally making comments about IndyMac's safety via a letter he "sent"-causing a bank run on it. He denies all of it to this day instead trying to blame Munchkins (Former US Treasury Sec. Steve Mnuchin for those that don't know we habs nicknames for some of them.)
See moar here:
How Chuck Schumer Caused Bank Collapse Dems Now Blame On Trump’s Treasury Nominee
https://dailycaller.com/2017/01/15/exclusive-how-chuck-schumer-caused-bank-collapse-dems-now-blame-on-trumps-treasury-nominee/
But make no mistake although Munchkns did not cause the IndyMac bank run he certainly profited from it becasue once the remains of IndyMac were placed at the Federal Deposit Insurance Corporation he "won" the auction and the good portions of it were spit out into his OneWest Bank.
You can see moar here Rep. Paul Kanjorski: America's economy was attacked 'by somebody' on September 11, 2008
https://youtu.be/ODBPlD0FXOU
Muh point if this is that is is totally possible to "blow this up" to the upside and not allow them to crash it thus continuing the cycle of of buying it back at lower prices...ask yourself this question..If a Reverse Repo of $10B "triggered" the 2008 event, along with Lehman Brothers and several other factors (which we don't really see right now-they (FRB) are about to give all the Zombie banks a 'free-pass' tomorrow on the Stress Tests why doesn't one of many factors larger (by 225x at present and done EVERY SINGLE NIGHT) "trigger" it at this point?
Food for thought as there are obviously some different control factors being used here when they were not in 2008'
Yen at 24 year lows still
Federal Reserve's Powell sees continuing rate increases as 'appropriate': Senate testimony
Federal Reserve Chair Jerome Powell reiterated in his semi-annual Monetary Policy Report to Congress on Wednesday his stance that "ongoing rate increases will be appropriate" and the pace of those changes will depend on incoming data as the central bank tightens policy to tame inflation.
https://seekingalpha.com/news/3850776-federal-reserves-powell-senate-testimony
They are not able to get the Yen to stay below 136 and even though it has backed off (strengthened) it is still elevated at 136.21-0.41 -0.30% and I will be looking for those dollar rolls to continue as they are not able to manage this very easily. What you are seeing (the movements over the last 3 weeks are ones that usually habben over a long period of time-they are losing control of this as it is continuing to weaken as this is the price of using THIS as the prop for our economy (Yen carry trade) that began, in earnest, after our market event in 2008). This has a lot moar to go and will only have to be managed moar and moar becasue of those failed policies coming home to roost now-where do you think all this "cash" is coming from?? and why out dollar is at highs while the Yen is at 24 year lows. Oh and show me where anyone else has talked about this specifically-not in just general terms with the BOJ bond buying becasue that is OLD news. It had a few stabs below 136 and on the 5th one is was solidly REJECTED and heading back up towards it's recent HOD of 136.72 (today's).
https://www.marketwatch.com/investing/currency/usdjpy
Same thing with the Securities Lending-targeting 2s/5s with the only change of the third largest being directed at another batch of 2 yr ones.
A total of$2,259,458,048,133Tin overall transactions today and $59.831B moar than Tuesday-this Repo is for overnight and uses 95 counter-parties. 20th day over the $2T mark overall
Reverse Reposee cap #2 $2.259.458T and $59.831B moar than Tuesday
Highest stand-alone Reverse Repo ever.
https://www.newyorkfed.org/markets/desk-operations/reverse-repo
Mortgage Backed Securities (MBS)See Cap #3 and NO QT today and only ONE (1) operation today- Lower on the submitted$164mmand lower on accepted side by $236m today. $2.321B submitted vs. $482m accepted in one operation This settles August 18th
These are 30-year Ginnie Mae loans
G2SF 4 8/22 $251,000,000
G2SF 4.5 8/22 $231,000,000
https://www.newyorkfed.org/markets/desk-operations/ambs
Securities Lending OperationsSee Cap #4 $49.255B submitted and $47.651B accepted'''
''Below the $50B level again and lower on both submitted and accepted side
Lower on submitted by $897m today and the accepted side by exactly $2B'
2 year note CUSIP #91282CER8 same as one as and all last week * This is what the system uses to send "messages" to the FOMC on what they want to do with Prime Rate-biggest at $4.310B (but they did not take the entire amount submitted on this one by$1.8Band these were just issued on May 31st -so only held for 20 days total. . Second biggest amount is the 5 year note #91282CET4 at$2.386Band an decrease of $649m. So same as yesterday with 2s and 5s the biggest. A total of$8.873Bdirected at those so look for this to continue being the target for them as they try and manage the short-ish to medium 'belly' of the curve. These are also used in the dollar roll with the BOJ as the same duration of their 2s and 5s...the arbitrage between the two since our rates have increased quite a bit. The third largest amount is a another 2 year note CUSIP#91282CEK3 at $2.177B and changed to this from the 1 year yesterday. A total of $6.487B directed at the 2 year and see above for what that is used for. *
https://www.newyorkfed.org/markets/desk-operations/securities-lending
Central Bank Liquidity Swap Operations'''None reported today..see yesterday for an after our markets closed report >>139412 lb
https://www.newyorkfed.org/markets/desk-operations/central-bank-liquidity-swap-operations